Silk Logistics Holdings Limited announced that Managing Director and Chief Executive Officer, Mr. Brendan Boyd, has decided to retire from his current executive role at the Company for medical reasons, and that the Board has determined to accept this decision. Mr. Boyd will step down as Chief Executive Officer (22 May 2024) but will continue to support and advise the Company, providing stability and a valuable source of customer, industry and operational knowledge as he transitions to a Non-Executive Director role. Accordingly, the Board also announces that Co-Founder and current Executive Director and Chief Customer Officer, Mr. John Sood, will be Mr. Boyd's successor. Mr. Soods' appointment as Chief Executive Officer will be effective from 22 May 2024. Mr. Sood's employment terms and conditions are outlined in Annexure 1. Brendan's early retirement triggers the Boards' established succession plan, which will see John transition seamlessly into his new role as Managing Director and Chief Executive Officer. John brings exceptional sector experience, having worked alongside Brendan through all the
Company's key milestones from the Company's inception, including its 2021 Initial Public Offer.